PUNE, India, Jan. 04, 2021 (GLOBE NEWSWIRE) -- The Automated Storage & Retrieval System Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Automated Storage & Retrieval Market was valued at US$ 6.3 billion in 2019 and is expected to witness a CAGR of 6.3% between 2020 and 2030 to reach a value of US$ 12.3 billion by 2030. Expansion of e-commerce industry, increased demand for sophisticated technology from material handling & order fulfilment applications, and expanding capacity of warehouses across the globe are the major factors driving the growth of the global automated storage & retrieval system market. Automated storage & retrieval system is a vital component of the order fulfilment and has witnessed increased demand owing to the rising number of warehouses globally. The e-commerce giants are focusing on the expanding warehousing capacity and adoption of advanced automation solutions to improve storage, retrieval, and transportation of goods. The automated storage and retrieval system offers multiple benefits such as efficient utilization of floor space, increased inventory storage density, increased throughput, reduced labor cost, and increased order picking accuracy, thereby fueling the growth of the global market.
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Rising adoption of auto-store automated storage & retrieval system to drive the growth of market
The global automated storage & retrieval system market is segmented based on type, application, end use industry, and geography. Based on type, the global automated storage & retrieval system market is segmented into unit load, mini load, vertical lift module, carousel, mid load, auto-store, and others. The vertical lift module segment contributed a significant share to the global automated storage & retrieval system in 2019 and is expected to witness steady growth during the forecast period. The auto-store automated storage & retrieval system is anticipated to be the fastest growing segment during the forecast period owing to rising demand fueled by high operational efficiency across warehousing.
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Expanding online retail industry to bolster growth of automated storage & retrieval system market
Based on end use industry, the global automated storage & retrieval system market is segmented into automotive & transportation, metals & mining, food & beverages, chemicals, healthcare, semiconductors & electronics, retail, aerospace & defense, and others. The automotive & transportation segment contributed a significant share to the global market and is anticipated to witness prominent growth rate during the forecast period. The application of automated storage & retrieval system retail industry is anticipated to be the fastest growing during the forecast period owing to expanding online retail industry. The expansion of online retail or e-commerce industry is anticipated to contribute significantly towards the growth of the global automated storage & retrieval system market during the forecast period.
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Based on geography, the global automated storage & retrieval system market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe contributed the largest share to the global automated storage & retrieval system market in 2019 and is anticipated to grow at a prominent rate during the forecast period. Asia Pacific contributed a prominent share to the global automated storage & retrieval system market in 2019 and is anticipated to be the fastest growing geography during the forecast period. Growth of e-commerce industry across major Asian countries is anticipated to expedite the growth of Asia Pacific automated storage & retrieval system market during the forecast period.
Major players active in the global automated storage & retrieval system market include Automation Logistics Corporation, AutoStore, Bastian Solutions, Inc., BEUMER Group GmbH & Co. KG, Daifuku Co., Ltd., Dematic, Hänel, IHI Corporation, Kardex Holding AG (Kardex Group), KNAPP AG, Mecalux, S.A., MIAS, Murata Machinery, Ltd., Schaefer Systems International, Inc., Sencorp Inc., SencorpWhite, Swisslog Holding AG, System Logistics S.p.A., TGW Logistics Group, Vanderlande Industries, and Westfalia Technologies Inc.
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